Boubyan Bank in Kuwait goes live with iGTB’s latest eMACH.ai digital transaction banking solution
Kuwait’s Boubyan Bank has gone live with the latest iteration of Intellect Global Transaction Banking’s eMACH.ai digital transaction banking solution.
Boubyan Bank picks iGTB for transaction banking tech
The bank, which is majority-owned by the National Bank of Kuwait, has been working to digitise its transaction banking operations with the India-based vendor since 2021.
This latest implementation provides the bank with a range of cloud-based digital transaction banking solutions powered by iGTB’s eMACH.ai Wholesale Banking platform, which Boubyan now plans to extend to its SME and corporate clients in Kuwait.
These include liquidity management solutions, virtual accounts, operational mobility solutions, and a new receivables solution called EPay, which seeks to enable faster collections and proactive payment recovery through a payment link via QR code.
The offerings are designed to connect with clients’ EPR and treasury management systems via host-to-host connectivity, allowing for straight-through processing of collection, payments and reconciliation records.
As part of its ongoing digital transformation journey, Boubyan also selected the core banking platform of Swiss vendor Temenos in August last year to overhaul its corporate banking, retail and wealth management tech.
